ISLM, or Islamic Coin, is a digital currency that has been created to serve the unique requirements of the Muslim community worldwide. ISLM is the native token of HAQQ, a powerful EVM-compatible blockchain constructed on Cosmos SDK. The digital currency adheres to Islamic financial principles and also pledges to offer economic independence, sustainability, and charitable contributions.
Islamic Coin (ISLM) is a unique digital currency that functions within the framework of Islamic finance, which prohibits interest-based transactions. The currency is deflationary, similar to precious metals like gold and silver, as highlighted in the Quran. Validators and stakers can only mint new coins at a set rate, ensuring a fair and transparent issuance process. This eliminates profit-seeking banks and the practice of charging interest, distinguishing ISLM from fiduciary money.
ISLM is the native token of the HAQQ blockchain, which is developed on the Cosmos SDK and boasts Ethereum compatibility, proof-of-stake mechanism, and instant finality. The platform is not just a financial powerhouse but also versatile, providing a platform for social media, gaming, education, and more. The Shariah Oracle operates as an ethical protection mechanism, guaranteeing that only Shariah-compliant smart contracts find a place in the HAQQ Wallet. The Evergreen DAO serves as a crypto endowment, governed by the HAQQ Community and the Shariah Board, promoting sustainable development and community impact. 10% of newly minted ISLM tokens are allocated to the Evergreen DAO, contributing to the economy's value for the community.
ISLM has a total supply of 20,010,000,000. The current circulating supply of ISLM is 107,620,000.
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